July 6 2021 thoughts on BTC
The large scale down trend seems to be in force still. Strong possibility for more drops, weak recoveries, and ranging.
Of course, the price is the result of a battle. I see that we are still arguably respecting the lines for a reversal and (still weak / forming) uptrend after the "spring" at 28.8k.
Personally, I much prefer a bull market and would love to see that side win for now. But you have to take into a variety of ways of looking at things so you're not caught off guard. I think a lot depends on the stock markets. If they stay positive, that gives bulls confidence. If not, then the bearish analysis gets a lot more emphasis. It seems like a lot of people are holding back buying (especially alt coins) right now waiting for some definitive sign of strength from BTC.
NFA.
Of course, the price is the result of a battle. I see that we are still arguably respecting the lines for a reversal and (still weak / forming) uptrend after the "spring" at 28.8k.
Personally, I much prefer a bull market and would love to see that side win for now. But you have to take into a variety of ways of looking at things so you're not caught off guard. I think a lot depends on the stock markets. If they stay positive, that gives bulls confidence. If not, then the bearish analysis gets a lot more emphasis. It seems like a lot of people are holding back buying (especially alt coins) right now waiting for some definitive sign of strength from BTC.
NFA.
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